Jubilant FoodWorks signs MoU with Coca-Cola to procure sparkling beverages | Company Business News
Food services company Jubilant FoodWorks Ltd (JFL), which operates Domino’s and Popeye’s chains of restaurants in India and neighbouring markets, said on Thursday it has signed a memorandum of understanding with The Coca-Cola Company to procure sparkling beverages from the soft drink major’s bottlers.
In 2018, rival PepsiCo was named the beverage partner for Domino’s Pizza in India. As part of the partnership, the PepsiCo portfolio of carbonated beverages of Pepsi, Mountain Dew, 7Up, and Mirinda along with Lipton Ice Tea was then sold across all Domino’s restaurants in India.
A master agreement will be executed between the two parties on 1 April 2025 based on the principal terms and conditions mentioned in the MoU, JFL added.
“Jubilant FoodWorks Limited has entered into a Memorandum of Understanding (MoU) with Coca-Cola India Private Limited, containing the principal terms and conditions for purchase of a portfolio of sparkling beverage products and certain other products from The Coca-Cola Company authorized bottlers, and for conducting marketing activities (which will be undertaken in the usual/ordinary course) for the said products as defined in the MoU,” Jubilant Foodworks said in an exchange filing.
“After execution of the master agreement, The Coca-Cola Company authorized bottlers will become suppliers of sparkling beverages and other products as set out in the MoU to JFL. The arrangement will help JFL enhance its consumer offerings,” it added.
The move follows Jubilant Bhartia Group’s investment in Hindustan Coca-Cola Holdings Pvt. Ltd., the parent company of the largest Coca-Cola bottler in India, through its entity Jubilant Beverages Ltd. earlier this month.
As part of the deal, Coca-Cola sold a 40% stake in bottling arm Hindustan Coca-Cola Beverages Pvt Ltd (HCCBL) to Jubilant Bhartia Group.
Coca-Cola Company sells Coca Cola, Thums Up, Sprite, Minute Maid, Maaza, SmartWater, Kinley, Limca, and Fanta.
Jubilant FoodWorks operates a portfolio of fast-food restaurants in India and neighbouring markets.
Its network comprises 3,130 stores across six markets namely India, Turkey, Bangladesh, Sri Lanka, Azerbaijan and Georgia. In India, it operates a total of 2,199 stores as of 30 September.
The group has a portfolio of quick-service restaurants with franchise rights for three global brands namely Domino’s, Popeyes and Dunkin’ Donuts. It also operates Hong’s Kitchen in India and a cafe brand COFFY in Turkey.
The promoters of HT Media Ltd, which publishes Mint, and Jubilant Foodworks are closely related. There are, however, no promoter cross-holdings.
